World

EU Commission targets WTO’s key rule in push to rebalance China trade

Published

4 weeks ago

February 20, 2026

EU Commission targets WTO’s key rule in push to rebalance China trade

Published on
20/02/2026 – 18:06 GMT+1

As the EU’s trade deficit with China keeps widening, the European Commission wants to revisit the WTO rule requiring members to extend the lowest tariff granted to one partner to all, known as the “Most Favoured Nation” principle under global trade rules.

The status is important as it has shaped trade for decades and allowed countries like China to benefit from low tariffs even as it transitions from an emerging to a sophisticated market as the world’s second largest economy.

With this new proposal, Brussels would link low tariffs to reciprocal market access. The move comes as European companies face persistent barriers in China, which has grown it trade surplus with the world and the EU despite calls to rebalance the relationship.

“The low tariffs should be matched with equal access to your [a trading partner’s] markets,” Šefčovič said on Friday after a meeting of EU trade ministers in Cyprus, adding: “I think that there has to be fairness on both sides.”

EU’s goods trade deficit with China keeps ballooning

The issue is set to surface at the WTO’s ministerial conference in Cameroon in March, one year after President Donald Trump jolted global trade with sweeping unilateral tariffs that challenged the multilateral system and have now been struck down by court.

WTO reform will dominate the gathering as policymakers grapple with a geo-economic landscape shaped by increasingly nationalist trade policies in both the US and China.

The “Most Favoured Nation” rule was designed to prevent discrimination among trading partners. But Brussels now sees it as contributing to structural imbalances with China.

“When this principle was embedded into the international trade law and WTO practices, simply the world was different,” Šefčovič said. “The GDP of China represented around 5 to 6%. Today we are at the level of 20%.”

The EU’s goods trade deficit with China widened to €359.3 billion in 2025.

Critics have long argued that Beijing has not fully adhered to WTO practices since it joined the institution in 2001, citing extensive Chinese government state subsidies. Since, its economy has grown to become the second largest in the world only behind the US.

“The past three decades global trade has changed profoundly. Some WTO members have dramatically expanded their share of global trade, while keeping their own markets relatively closed,” Commissioner Šefčovič said on Friday. “And at the same time, state support and non-market policies have multiplied.”

The “Most Favoured Nation” rule has also been called into question by the deals struck over the past year by the US with trading partners under the threat of steeper tariffs.

The EU-US agreement concluded last July sets 15% US tariffs on EU goods, while the EU committed to granting preferential treatment with zero tariffs on US imports.

Still, the trade agreements announced by the Trump administration have not been notified to the WTO, even though members are required to do so to allow others to assess their compliance with WTO rules.

The tariffs have also been declared ilegal by the US Supreme Court on the basis that the president exceeded his mandate by invoking emergency laws to push them throw. The ruling adds uncertainty to an already complex geopolitical context.

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World

Curro Rodríguez: from bankruptcy to global water empire

Published

14 minutes ago

March 21, 2026

Press Room

Curro Rodríguez: from bankruptcy to global water empire

Published on 20/03/2026 – 15:00 GMT+1•Updated
15:23

From a start-up founded in Malaga in 2015 with a few thousand euros, Ly Company has become one of Europe’s fastest-growing multinationals, and a global leader in the sustainable water packaging sector.

With ten factories located across Europe, Latin America and the Middle East, Ly Company produces about 10 million bottles of water in cardboard packaging per month.

Unlike most competitors, Ly Company doesn’t owe its success to mass retail firms.

It sells personalised products to more than 3,000 brands, ranging from airlines and hotel chains to private transport companies and major events organisers. “There is a lot of water in sectors where no one thinks it is consumed”, notes Rodríguez. “An airline, for example, can consume 50 million bottles per year.”

The company is now targeting China and, above all, the United States.

Its positioning is also based on sustainability: factories powered by green energy, cardboard from responsibly managed forest, bioplastic made from sugar cane and water guaranteed to be microplastics-free. Part of the profits fund his “Agua y Vida” Foundation, which is involved in environmental and humanitarian projects.

“I’ve gone through some very difficult times. Now that I’m doing well, I want to give something back to society”, explains Curro Rodríguez.

Behind this rise lies a chaotic journey. While working as a first-responder in emergency medical services for twenty years, he was simultaneously launching businesses, sometimes risky ones. Two successive bankruptcies saw him resort to food aid and doing odd jobs for a while, before he reinvented himself.

“My passion is bringing projects to life”, explains Curro Rodríguez, who has founded a total of 39 companies, 23 of which are currently active within his holding company. “When things are done out of emotion, and not for money, they create value. The money follows. But you have to look for value first”, he concludes, a big smile on his face.

World

Video: What Tunnel Entrances Reveal About a Key Iranian Nuclear Site

Published

10 hours ago

March 20, 2026

Press Room

Video: What Tunnel Entrances Reveal About a Key Iranian Nuclear Site

new video loaded: What Tunnel Entrances Reveal About a Key Iranian Nuclear Site

transcript

What Tunnel Entrances Reveal About a Key Iranian Nuclear Site

Satellite images show how Iran has tried to bolster its defenses at parts of the Isfahan nuclear facility.

: What you’re seeing here are buried tunnel entrances at a nuclear facility in Iran. It’s one of the most important sites in the country for U.S. and Israeli forces. U.N. inspectors think that roughly half of Iran’s highly enriched uranium is buried here. And these three entrances are the only known ways to access it. If you think about nuclear sites in Iran, three main sites come to mind. They’re pretty well known: Fordo, Natanz and Isfahan. Natanz and Fordo, They were largely taken out in U.S. strikes last year. So I’ve been focusing on Isfahan. The uranium here is still relatively accessible. It’s actually a pretty large complex. This area here was very important for uranium processing, but it was heavily hit by the U.S. and Israel last June. If you go a little bit further north, that is underground and that requires tunnels to enter. In a terrain view, it gets quite interesting. There are three roads that lead to these tunnel entrances, and these tunnel entrances have become very important, both last year, but also right now. They lead to the underground facility where U.N. inspectors say uranium is stored and a new enrichment site could be located. If this falls into the wrong hands, that would be a problem in the long term. Here’s a great example of how very recent satellite imagery gives us new insights. This is from late January of this year, and what you see here is a line of trucks. And they’re filled with soil, and they’re lining up to go to some of these tunnel entrances. If you look a little bit closer here, you see another one of these trucks that’s just unloading some of the soil and some earthmoving equipment. Iran in preparation for any possible attacks at that point. They try to protect this facility a little bit more. So this is Jan. 29. And if you just look a few days later, we go to Feb. 2. This is the completely buried tunnel entrance, completely covered in soil to protect from any attack. And this is how it still looks in mid-March. The U.S. and Israel have basically two options here: The first one is to heavily bombard the entrances to this underground complex that would block any access, at least in the near future. They haven’t done that yet. So that’s very, very interesting — a little bit surprising. And it might point towards a second option: That would be to go in with ground forces and to extract the uranium. But that would require a really large amount of troops to secure the vast area, bringing in earthmoving equipment to clear the tunnels and a lot of time in hostile territory.
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Satellite images show how Iran has tried to bolster its defenses at parts of the Isfahan nuclear facility.

By Christoph Koettl and Alexander Cardia

March 20, 2026

World

Iranian man, 2nd person arrested after allegedly trying to enter UK nuclear missile base: report

Published

11 hours ago

March 20, 2026

Press Room

Iranian man, 2nd person arrested after allegedly trying to enter UK nuclear missile base: report

NEWYou can now listen to Fox News articles!

Two people were arrested after allegedly unsuccessfully attempting to enter HM Naval Base Clyde in Scotland on Thursday, authorities confirmed to Fox News Digital.

One suspect was an Iranian man, while the other was a woman of unknown nationality, The Telegraph reported.

“Around 5pm on Thursday, 19 March, 2026, we were made aware of two people attempting to enter HM Naval Base Clyde,” Police Scotland said in a statement to Fox News Digital. “A 34-year-old man and 31-year-old woman have been arrested in connection and enquiries are ongoing.”

The Telegraph reported that the man was Iranian, while the woman’s nationality was not immediately known. Citing the Times, the Telegraph said the suspects were turned away from the base because they lacked the correct passes and were later arrested nearby for allegedly “acting suspiciously in the vicinity.”

IRAN’S NEW SUPREME LEADER LINKED TO PROPERTIES WITH ‘LINE OF SIGHT’ INTO ISRAELI UK EMBASSY

HMS Artful, an Astute-class nuclear-powered fleet submarine, is shown at His Majesty’s Naval Base Clyde on March 4, 2025, in Faslane, Scotland. (Jeff J Mitchell/Getty Images)

A Royal Navy spokesperson said in a statement to Fox News Digital, “Police Scotland have arrested two people who unsuccessfully attempted to enter HM Naval Base Clyde on Thursday 19 March. As the matter is subject to an ongoing investigation, we will not comment further.”

HM Naval Base Clyde — commonly known as Faslane — is considered the primary base for the United Kingdom’s missile fleet.

PENCE BACKS TRUMP’S IRAN STRIKES, SAYS PRESIDENT ‘IGNORED’ GOP ISOLATIONISTS

A general view of His Majesty’s Naval Base Clyde on March 4, 2025, in Faslane, Scotland. (Jeff J Mitchell/Getty Images)

The Royal Navy says the base is home “to the core of the Submarine Service, including the nation’s nuclear deterrent, and the new generation of hunter-killer submarines.”

The U.K. Parliament says the Royal Navy currently operates a fleet of nine submarines, with the entire fleet based at HM Naval Base Clyde.

His Majesty’s Naval Base (HMNB) Clyde, also known as Faslane, hosts the U.K.’s nuclear submarines, which are armed with Trident missiles and serve as the U.K.’s nuclear deterrent. (Jeff J Mitchell/Getty Images)

“Five of those are conventionally-armed nuclear-powered attack submarines of the Astute class. A further four are ballistic missiles submarines (SSBN) of the Vanguard class that comprise the UK’s submarine-based nuclear deterrent,” it added.

Greg Norman is a reporter at Fox News Digital.